Fabrice Drouin Ristori: Mr Powell, thanks for accepting this interview, I’ve been following your work at GATA, for a long time and i appreciate the time you take to answer a few important questions.
What is GATA and what is the objective of your association ?
Chris Powell: The Gold Anti-Trust Action Committee Inc. is a non-profit civil rights and educational organization based in the United States that aims to expose and oppose manipulation of the gold market and related markets.
We have compiled and publicized evidence of market manipulation, demanded information from central banks and have sued them when we haven't gotten it. In 2011 we defeated the Federal Reserve in one such lawsuit and are planning another lawsuit against the Fed, U.S.Treasury Department, and U.S. State Department.
FDR: A lot of people only consider gold and silver as « investment » when they did play a much more important role thoughout history as the basis of a stable economy and society.
Lacking this understanding seems to be the reason why people don’t really understand gold and silver, could you explain us why are gold and silver more than an investment and what it can bring to the stability of our world ?
CP: Gold and silver are forms of money -- independent or potentially independent forms of money, money not controlled by government, forms of money to which people can resort when they are dissatisfied with government money.
FDR: In view of what you’ve just explained, can you tell us why anyone would want to manipulate gold and silver ?
CP: As alternative currencies, free-trading gold and silver pose immense threats to government power over individuals. That is why governments long have manipulated the gold and silver markets. The use of gold and silver as money is a powerful check against government power.
«Governments have manipulated the gold price through outright sale of national gold reserves, through leasing of those reserves, and through the sale and purchase of futures and options.»
FDR: Can you explain us how they are able to manipulate the price ?
CP: Governments have manipulated the gold price through outright sale of national gold reserves, through leasing of those reserves, and through the sale and purchase of futures and options.
Silver lately seems to be manipulated by the U.S. government through disproportionate trading by the big U.S. investment bank J.P. MorganChase. Silver is a small market and any trader with the sort of money to which MorganChase has access can push it around very easily.
FDR: How long do you think they will be able to manipulate gold and silver ?
CP: Potentially forever, if ignorance holds out.
FDR: What will put and an end to this manipulation ?
CP: One of two things will have to happen. Gold and silver investors worldwide will have to realize that infinite gold and silver paper investments are being created to divert demand away from real metal into imaginary metal and that the only way to invest in the metals with any chance of profitability is to insist on delivery of real metal and remove it from the banking system.
Or some nation not participating in the scheme to support the major Western currencies will have to purchase metal on the same basis and remove it from the banking system.
FDR: What can people do to help your organisation or help bringing back gold and silver in our monetary system, knowing that in the end, it’s in their best interest to help bring back gold and silver in our monetary system ?
CP: We welcome and need donations, which are federally tax-deductible in the United States: Help support GATA's efforts by making a donation.
We invite people to subscribe to our daily e-mail dispatches about the gold and silver markets, which they can do by using the mechanism in the right column at GATA's Internet site.
We urge people to familiarize themselves with and help us publicize the evidence of market manipulation that we have posted in our documentation file here.
And of course we need gold and silver investors to invest only in real metal, not paper promises of metal, which are infinite -- and infinite frauds.
FDR: I would like to thanks again Chris Powell for taking the time to answer this interview.